Rockville, June 21, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the Plastic Containers Market Size is valued at US$ 64.35 billion in 2023 and is predicted to expand at a CAGR of 5.2% between 2023 and 2033.
Plastic is an effective alternative to packaging materials such as glass, paper, wood, metal, and others due to its cost-effectiveness and non-reactivity with food, beverages, and cosmetics, besides being lightweight and having a hassle-free process cycle. The high degree of protection and reduced costs are increasing the usage of containers across key end-use industries. Plastic containers being highly demanded for one-time use in packaging food, drinks, and others, and is the most widely used type of packaging.
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Plastic pouches are highly demanded by food, cosmetics, and other industries due to their varieties in size, shape, and designs. Plastic containers are even more in demand from a variety of end users due to the inclusion of 3D printing on their outside surfaces. Polyethylene terephthalate or PET is highly required by the diverse end-user industries such as bottled water, carbonated soft drinks, food, beverages, and others. PET plastic is approved as safe by FDA and is gaining rapid traction in producing plastic containers due to being light-weighted, non-reactant, cost-effective, and environment-friendly.
Key Takeaways from Market Study
- Global sales of plastic containers account for US$ 64.35 billion in 2023.
- Worldwide demand for plastic containers is estimated to rise at a CAGR of 5.2% from 2023 to 2033.
- The global plastic containers market is expected to reach US$ 106.8 billion by 2033.
- Demand for plastic containers from the food and beverage industry is set to increase at a CAGR of 5.3% through 2033.
- The market in Germany is estimated to reach US$ 9.72 billion by the end of 2033.
- The market in India is predicted to increase at 4.1% CAGR over the next ten years.
“Being light-weighted, affordable, and non-reactant, plastic containers are finding applications across the spectrum, from beverages to bottled water. While the adverse effects of plastics on the environment are well-documented, manufacturers are continuously researching to innovate environment-friendly plastic packaging solutions, such as biodegradable plastic containers,” says a Fact.MR analyst
Competitive Landscape
Key market participants are using tactics such as new developments, quality control, product standards, and mergers and acquisitions to broaden their product offerings. They are concentrating on increasing their manufacturing capacities and implementing cutting-edge technology to satisfy customer demand for efficient packaging.
- Alpha Packaging Holdings Incorporated launched its new extensive range of PET products such as PET Honey Bears, Black PET Sample Pack, and others in the last year to draw potential consumers. They are also providing Plastic Comparison Chart to their client to let them get access to the correct information about their plastic containers
- In 2020, Linpac Group Ltd. launched its new extensive range of plastic containers such as Vertifresh-Flexible Packaging, Hotpacs boxes & trays.
- In 2020, Sonoco Products Company launched its new exclusive range of plastic containers such as Hinged & Lidded Rigid Plastic Containers, In-Mold Label Containers, Rigid Blister Packaging, and others.
Key Companies Profiled
- Alpha Packaging Holdings Inc.
- Amcor
- Bemis Company, Inc.
- CKS Packaging, Inc.
- Constar International LLC
- Huhtamäki Oyj
- Letica Corporation
- Linpac Group Ltd.
- Sonoco Products Company
- Plastipak Holdings Inc.
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Winning Strategy
Plastic container manufacturers are witnessing a spike in demand owing to the rise in requirement for single-use packaging. Prominent market players are focusing on launching wider varieties of high-quality products to capitalize on the growing opportunities.
For instance,
- CKS Packaging Inc. launched their new range of plastic containers of various sizes such as 128 oz 8 Pint Jar Naugatuck, CT, 96 oz 6 Pint Jar Naugatuck, CT, 48 oz 3 Pint Jar Naugatuck, CT, and others.
Key Segments of Plastic Containers Industry Research
- By Packaging Type:
- Bags & Pouches
- Bottles & Jars
- Boxes & Cartons
- Containers (Plastic Containers & Metal Cans)
- Others (Cups, Tubs, and Bowls)
- By Packaging Material:
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET, PETE, PETG, Polyester)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- Others
- By Application:
- Alcoholic Beverages
- Bottled Water
- Carbonated Soft Drinks
- Energy Drinks
- Milk Products
- Ready-to-Drink Beverages
- Tea/Coffee
- By End Use:
- Cosmetics & Personal Care
- Electronics
- Food & Beverages
- Pharmaceuticals
- Printing & Stationary
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global plastic containers market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on packaging type (bags & pouches, bottles & jars, boxes & cartons, containers (plastic containers & metal cans), others), packaging material (high density polyethylene (HDPE), low density polyethylene (LDPE), polyethylene terephthalate (PET, PETE, PETG, Polyester), polypropylene (PP), polystyrene (PS), polyvinyl chloride (PVC), others), application (alcoholic beverages, bottled water, carbonated soft drinks, energy drinks, milk products, ready-to-drink beverages, tea/coffee), and end use (cosmetics & personal care, electronics, food & beverages, pharmaceuticals, printing & stationary, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
Modular Containers Market: The global market for modular containers is valued at US$ 29.65 billion in 2023. Worldwide sales of modular containers are predicted to reach US$ 57.79 billion, increasing at a CAGR of 6.9% from 2023 to 2033. Relocatable modular container sales are predicted to increase at a CAGR of 7% over the next 10 years.
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Fuel Storage Containers Market: The global fuel storage containers market was valued at US$ 25 Billion in 2021, and is projected to register a Y-o-Y increase of 4% in 2022 to be valued at US$ 26.13 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 4.5% value CAGR, likely to reach US$ 40.57 Billion by the end of the said forecast period.
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